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German finance minister Wolfgang Schäuble to be Bundestag speaker German finance minister Wolfgang Schäuble to be Bundestag speaker
(about 2 hours later)
Wolfgang Schäuble, a man revered and reviled in equal measure for his tenacious austerity economics, is to relinquish his powerful role as Germany’s finance minister and instead become the speaker of the parliament, his party has announced.Wolfgang Schäuble, a man revered and reviled in equal measure for his tenacious austerity economics, is to relinquish his powerful role as Germany’s finance minister and instead become the speaker of the parliament, his party has announced.
Schäuble, 75, was asked to take on the role by the chancellor, Angela Merkel, who is keen on someone with authority and experience to steer future debate in the Bundestag following the success in Sunday’s election of the rightwing radical Alternative für Deutschland. Schäuble, 75, was asked to take on the role by the chancellor, Angela Merkel, who is keen on someone with authority and experience to steer future debate in the Bundestag after the success in Sunday’s election of the rightwing radical Alternative für Deutschland (AfD).
The AfD is due to take up 94 seats in the house, having secured 12.6% of the vote and its leadership has pledged to shake up the debating culture in the Bundestag, making it considerably rowdier than the calm and consensus-based mood that has characterised it in the past. The AfD is due to take up 94 seats in the house, having secured 12.6% of the vote, and its leadership has pledged to shake up the debating culture in the Bundestag, making it considerably rowdier than the calm and consensus-based mood that has characterised it in the past.
The role of speaker has been empty since Norbert Lammert, a veteran CDU MP, recently announced he would retire at the end of the last parliamentary term. In terms of protocol it ranks second only to that of federal president, and ahead of the chancellor, but in reality it is considerably less powerful than his current post.The role of speaker has been empty since Norbert Lammert, a veteran CDU MP, recently announced he would retire at the end of the last parliamentary term. In terms of protocol it ranks second only to that of federal president, and ahead of the chancellor, but in reality it is considerably less powerful than his current post.
Schäuble, a lawyer by training, is the longest-serving MP in the Bundestag, having been elected in 1972. Once one of her staunchest rivals, he has since become one of Merkel’s closest confidantes as well as the most experienced and high-profile minister in her cabinet. He has been finance minister since 2009 and is held in high regard in Germany, particularly by the conservative base, who revere him for acting in Germany’s interests as the dogged protector of austerity economics in the eurozone. He is also admired at home for his insistence – some would say obsession – with a balanced budget or the “black zero”. Germany today has a record budget surplus. Schäuble, a lawyer by training, is the longest-serving MP in the Bundestag, having been elected in 1972. Once one of Merkel’s staunchest rivals, he has since become one of her closest confidantes as well as the most experienced and high-profile minister in her cabinet. He has been finance minister since 2009 and is held in high regard in Germany, particularly by the conservative base, who revere him for acting in Germany’s interests as the dogged protector of austerity economics in the eurozone. He is also admired at home for his insistence – some would say obsession – with a balanced budget or the “black zero”. Germany today has a record budget surplus.
But elsewhere he is viewed as a hugely controversial figure, particularly in southern Europe – namely Greece – and in Ireland, where he has often faced criticism for his handling of the euro crisis that has dominated almost his entire time as finance minister. But elsewhere he is a hugely controversial figure, particularly in Greece and in Ireland, where he has often faced criticism for his handling of the euro crisis that has dominated almost his entire time as finance minister.
Schäuble has yet to respond to the reports of his new appointment, but it was confirmed on Wednesday afternoon by Volker Kauder, chairman of the CDU parliamentary bloc. Those close to him have suggested in the past he would not favour the role because it does not involve active policymaking. Schäuble has yet to respond to the reports of his new appointment, but it was confirmed on Wednesday afternoon by Volker Kauder, the chairman of the CDU parliamentary bloc. Those close to him have suggested in the past he would not favour the role because it does not involve active policymaking.
Others have suggested that health concerns may have persuaded him it is time to switch to a slightly less demanding role. But commentators say the role will change considerably with the arrival of the rightwing populists AfD. Others have suggested that health concerns may have persuaded him it is time to switch to a slightly less demanding role. But commentators say the role will change considerably with the arrival of AfD.
The question of who will replace him as finance minister has yet to be even hinted at by the government. As Merkel, leader of the Christian Democrats, began complicated talks this week with her sister party, the Christian Social Union, the pro-business FDP and the Greens over a possible coalition, the future constellation of the new government remains open. But it has been widely speculated that in return for entering a coalition with Merkel, the FDP will want to have control of the finance ministry, a position it has secured in past coalitions with the CDU. The question of who will replace him as finance minister has yet to be even hinted at by the government. As Merkel, the leader of the Christian Democrats, began complicated talks this week with her sister party, the Christian Social Union, the pro-business FDP and the Greens over a possible coalition, the future composition of the new government remains open. But it has been widely speculated that in return for entering a coalition with Merkel, the FDP will want to have control of the finance ministry, a position it has secured in past coalitions with the CDU.
However, given that the FDP has so far firmly resisted plans by the French president, Emmanuel Macron, to overhaul the eurozone – to which Merkel has given her tacit backing – an FDP finance minister could greatly complicate her fourth term in office.However, given that the FDP has so far firmly resisted plans by the French president, Emmanuel Macron, to overhaul the eurozone – to which Merkel has given her tacit backing – an FDP finance minister could greatly complicate her fourth term in office.
Shortly after leading negotiations for the reunification of East and West Germany in October 1990, Schäuble, a father of four who has been married since 1969, was left paralysed by an assassination attempt in which he was shot in the spine and face three times. He has been a wheelchair user ever since. Within three months of the attack he was back at work as interior minister. In 2010 there were serious concerns for his health after he suffered complications from an earlier operation, and Merkel has twice rejected his offer to step down over his health. Shortly after leading negotiations for the reunification of East and West Germany in October 1990, Schäuble, a father of four who has been married since 1969, was left paralysed by an assassination attempt in which he was shot in the spine and face three times. He has used a wheelchair ever since. Within three months of the attack he was back at work as interior minister. In 2010 there were serious concerns for his health after he suffered complications from an earlier operation, and Merkel has twice rejected his offer to step down over his health.